Creating As Charged Project Revenue Rules

Note:

This topic is about recognizing revenue directly from charge-based projects. For information about recognizing revenue for projects that are attached to line items in sales transactions, see Advanced Revenue Management (Essentials) for Projects.

As charged project revenue rules recognize the revenue from actual project charges as they are created rather than when they are billed.

To create as charged project revenue rules:

1. Go to Lists > Relationships > Projects.

2. Click View next to the charge-based project you want to create a project revenue rule for.

3. On the Financial subtab, click Project Revenue Rules.

4. Click New As Charged Rule.

   A popup window opens.

5. Enter a name for your rule.

6. In the Name column, select the name of the charge rule you want to use for this revenue rule.

7. Click Add.

   You can add multiple charge rules of differing types to an as charged project revenue rule if the charge rule has no charges in the billed state. If you want the system to consider charges in the Hold state as revenue, set an accounting preference.

8. Click Save.

After you save your as charged project revenue rule, NetSuite creates revenue elements, arrangements, and forecast plans with the upcoming scheduled revenue recognition update. You can manually update revenue arrangements and plans to create them immediately. When you create charges for your project, NetSuite converts your forecast revenue plans to actual revenue plans. For more information, see Updating Revenue Arrangements and Updating Revenue Recognition Plans.

For more overview information about revenue rules, see Project Revenue Rules.

General Notices